VICI Properties (NYSE:VICI) Releases Earnings Results, Misses Estimates By $0.41 EPS

Key Points

• VICI Properties reported quarterly EPS of $0.31, missing analyst estimates of $0.72 by $0.41, while revenue of $1.07 billion slightly exceeded expectations of $1.06 billion.
• Shares fell to $23.50 following the results, near the lower end of their 52-week range. The stock has a market capitalization of $25.88 billion and a P/E ratio of 9.11.
• VICI raised its quarterly dividend to $0.46 per share, or $1.84 annualized, representing a 7.8% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $29.81.

VICI Properties (NYSE:VICI - Get Free Report) posted its earnings results on Wednesday. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.41), FiscalAI reports. VICI Properties had a net margin of 67.50% and a return on equity of 9.66%. The business had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.06 billion.

VICI Properties Stock Performance

Shares of NYSE VICI traded down $0.20 during midday trading on Wednesday, reaching $23.50. 9,665,195 shares of the company were exchanged, compared to its average volume of 9,572,859. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.57. VICI Properties has a 1 year low of $22.42 and a 1 year high of $30.83. The stock has a fifty day simple moving average of $24.28 and a 200 day simple moving average of $27.01. The stock has a market cap of $25.88 billion, a P/E ratio of 9.11 and a beta of 0.65.

VICI Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 7.8%. This is a positive change from VICI Properties's previous quarterly dividend of $0.45. The ex-dividend date was Thursday, September 17th. VICI Properties's payout ratio is currently 71.32%.

Analysts Set New Price Targets

Several research firms have recently issued reports on VICI. Weiss Ratings cut VICI Properties from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, September 9th. Citigroup reissued a "market outperform" rating on shares of VICI Properties in a research report on Friday, October 2nd. JPMorgan Chase & Co. cut VICI Properties from an "overweight" rating to a "neutral" rating and set a $30.00 target price for the company. in a research note on Thursday, September 24th. Raymond James Financial set a $29.00 price target on VICI Properties in a report on Thursday, August 13th. Finally, Truist Financial dropped their price target on shares of VICI Properties from $38.00 to $32.00 and set a "buy" rating on the stock in a research note on Tuesday, October 20th. Eight research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, VICI Properties presently has an average rating of "Moderate Buy" and a consensus target price of $29.81.

VICI Properties Company Profile

VICI Properties Inc NYSE: VICI is a real estate investment trust that owns and manages experiential properties, with a primary focus on gaming, hospitality and entertainment destinations. The company's portfolio includes the real estate associated with well-known casinos, resorts, racetracks and golf facilities.

VICI generally leases its properties to gaming and entertainment operators through long-term, triple-net lease agreements. Its tenants operate the properties and are typically responsible for property-level expenses such as maintenance, insurance and taxes, while VICI focuses on owning, maintaining and expanding its real estate portfolio.

The company was established in 2017 as part of the restructuring of Caesars Entertainment Operating Company.

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